An infrastructure race has begun around the world, and the United States is not keeping pace. We’re facing problems that stand in the way of ensuring that our infrastructure receives the necessary funding over the next two decades. In China, an infrastructure investment of $28.4 trillion between now and 2040 is required to meet the country’s needs, according to the Australian-based Global Infrastructure Hub (GIH). Based on current trends, China will invest $26.5 trillion over that time period, $1.9 trillion shy of what’s necessary.
The United States, though, has a much larger difference between what we need, and what we’re expected to invest. According to the GIH, The United States needs to invest $12.4 trillion between now and 2040, but are only likely to invest $8.5 trillion. That’s a sizeable gap of $3.8 trillion, and 90 percent of that is needed for building and maintaining our roads and highways.
There has bene considerable chatter among lawmakers in Washington over infrastructure funding, and individual states have begun to lead by example through infrastructure investments. This is something that needs present attention, and will have immediate and positive effects on American citizens.
Research from the International Monetary Fund found that for each percentage point of gross domestic product (GDP) invested in infrastructure, 1.5% GDP growth will return within four years. The GAIN coalition is sees a bright future for American infrastructure, and we hope to see Congress act to close the funding gap for our crumbling network.